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Newspaper
Washington Post
Location
Washington, Washington Dc, United States of America
Date
Aug 05, 1911
Page
2
A Washington Post special from New York describes a steep market decline with liquidity draining from railroad and industrial stocks. It notes heavy selling in the final hours, scant rallies, and broad bearish pressure amid investigations and prosecutions.
Friday August 4 1911 total stock sales 747200 shares ex dividend quotations repeated by Hibbs & Co bankers brokers Hibbs Building members of NYSE Chicago Board of Trade and Washington Stock Exchange veal calves steady hogs and lambs listed with price ranges for various grades and weights amid market fluctuations.
Wheat futures steadied after early gains on news of crop damage in Russia and black rust in Canada, while rain in India and Russia reports tempered buying. Spot wheat and corn showed limited movement with modest declines and steady oats. barley remained nominal. Receipts and shipments tallied for the day, with prices varying across contracts.
New York cotton opened with a sharp advance before turning lower in afternoon trading. Prices fluctuated wildly with early gains of up to 40 points and late losses, October finishing about 49 points below its morning high while nearby months held firmer figures.
New York money market reports steady on call at 2 1 4 percent, with time loans firm at 60 days 2 1 4 percent and 90 days 3 3 4 percent. Exchange weaker with bankers' bills quoted around 4 84 for 60 day bills and 4 86 10 for demand. Government bonds steady, railroad bonds weak.
R G Dun reports moderate betterment in trade with cotton results spurring hesitation among dry goods buyers. Iron and steel demand steady. mill activity and equipment orders rise. Railroads seek more rolling stock. rails and plate orders expand among transport firms amid price unsettled margins. Overall production activity grows while dry goods gain. Bradstreet notes U S business failures fell to 20s for week ended August 3.
New York August fourth marked a fourth straight market decline with railroad and industrial shares losing 1.49 and 1.45 points respectively. Steel common plunged about 2.78 percent, aiding liquidation. Chicago money-market heating, large currency flows to the Southwest, and notable activity on Washington exchanges accompanied the downturn.
New York and Chicago market notes show steady to firm in butter cheese eggs pork beef and lard with varying receipts. Livestock receipts include cattle hogs sheep and lambs with mixed demand and price ranges across regions and grades.
Philadelphia markets report quiet wheat and firm corn and oats with modest gains in butter cheese and live poultry. New York copper steady with futures mixed. London copper firm. local iron prices steady with No 1 foundry Northern at 15.00 to 15.25 and Southern at 14.73 to 15.25.
Two Washington youths, Ebenezer Hopkins and James Callahan, both 14 and 15, faced Judge DeLacy after a reciprocal brick-throwing feud. A half brick shattered a lodge window. later a full brick attack occurred, prompting court action. Both boys were placed on probation after testimonies described their escalating feud and mutual involvement.
Wholesale quotations for fresh fruits and vegetables. Includes eggs from Virginia to Tennessee, butter prices, and multiple items with per pound, per crate, or per basket rates. Covers green fruits like cantaloupes and apples, oranges, lemons, pineapples, berries, and assorted vegetables with varied regional origins.
Three men may contend for the Mexican presidency if Emilio Vasquez Gomez followers prevail on de la Barra to announce. Dr. Francisco Vasquez Gomez is expected to resign his post as minister of public instruction. A circular signed by Emilio Gomez appeared to avert further trouble as Gen. Blanco at Juarez received a peace appeal.
At the Knights of Columbus convention in Detroit on Aug 4 Dr James Walsh Fordham University dean urged Catholics to avoid secular schools for youth citing growing Catholic institutions. A report calling for stricter training was unanimously adopted and Cambridge Springs Pa named for the 1912 convention.
Ulysses B. Benner, 42, a horseman and athlete, was crushed when his mount fell at the Orange Horse Show. His body was sent to his Warrenton home. Pallbearers included Cochran, Conway, Col. Lewis, L. Trotter, and Goodyear. Floral tribute from Albemarle Horse Show Association. Survived by wife and a 14-year-old son, plus two sisters in Washington and Warrenton. He'd been master of the Warrenton Hounds and an expert skater.
In Kentucky, about 100 pellagra cases found in Bell and White counties following 17 cases at the Eastern Kentucky Insane Asylum. State health officials meet August 9 at Corbin to discuss remedies with possible involvement by the government and Rockefeller Institute. Also notes a 2% rise in patients admitted to the Government Hospital for the Insane, with 268 sent to St Elizabeth's.
Elgin Illinois August 4 Governor Charles S Deneen sustained painful leg injuries when a horse carrying him and his staff ran wild and crashed into a roadside carriage. Lacerations reported with staff. Paris August 4 Princess Poniatowski dies in Paris at age 3 after marriage to prince in 1884. She was Elizabeth Sperry of Stockton California.
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